- Most Forex traders lose all their money.
- Using the robot posted here in trading Forex does not guarantee success.
- Trading this robot could lead to serious financial loss.
- Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
- This is not a set-and-forget ea; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention.
- At best, a trading robot is only 90% as good as the manual strategy it trades. At best. At worst, it can be much less effective. If the strategy is rubbish, so is the robot.
- To trade this robot, you have to understand:
- How to use EA's.
- How to use indicators. You need VQ7 in your platform's Indicators folder. Drag two copies onto your charts and set the Length inputs to match those you are using in the EA if you want visual confirmation.
- Basic MPTM features = follow my signature link to download the user guide.
DO NOT USE THIS EA ON A LIVE ACCOUNT. IT IS EXPERIMENTAL.
Introduction
I received this pm from Caillou:
"I think VQ indicator is really powerfull and I'm testing it with these rules:
- TF: M5
- VQ: Length 20
- VQ: Length 35
- Entry: when both VQ match their colors (sometimes 20 then 35 if trend starts, sometimes 35 then 20 if we have a pullback)
- Exit: when VQ 20 changes color
- Breakeven: 20 + 2
- Trailing Stop/Jumping Stop would be great.
This is not a scalping system, last days (I know, trendy days) more than 100 pips would be earned in one trade several times.
Since we have already your Spider's EA, I think this mod would be easy for you to do, for me maybe in 5-6 years "
All I had to do was adapt Spider, this this was indeed easy. To add extra flexibility, the time-frame is an input for both VQ's.
A couple of things to note:
- VQ7 is a custom indicator and calls to these are notorious for the processor time they consume. I have coded the EA to make these calls once a minute to cut down on the processor use; it also makes trading decisions at the same time - both entry and exit.
- If backtesting in Strategy Tester at the weekend, remember to widen the MaxSpread to something ridiculous or you will not get any trades.
Filters to help avoid over-trading
You will find all the usual filters to help avoid overtrading.
- UseZeljko: this ensures that a second trade including one of the currencies already being traded is 'balanced. The easiest way to explain this is with an example:
- Buy GBPxxx open, so only sell GBPxxx. So, if the buy is GBPUSD, then only sell GBPJPY, GBPCHF etc. The rationale is that forex markets are highly sensitive to big movements caused by international events. If something drastic hits the GBP and you are in two sell positions, then both are heading horribly into drawdown. If one of the trades is a buy and the other a sell, then one is going down the tube but its balancing buy is heading for the stratosphere.
- OnlyTradeCurrencyTwice: using the balanced pair example, the GBP is now involved in two balanced trades. Another trade involving the pound will unbalance the trades and leave the trader exposed to a horrible counter-movement. This filter prevents the GBP from being involved in any further trading of different pairs. It also operates at pending-trade sending time and will prevent the pending being sent if it would violate this filter.
- I have included the swap filters for reasons that will become obvious if you trade the high-cost swap pairs in the wrong direction.
- ScoobsMarginCheck: will stop trading if your account margin > your free margin divided by 100
- ForexKiwi: will stop trading if your margin percent drops below your selected input in FkMinimumMarginPercent.
All Averages indi and Martingale lot sizing
I received this pm from tex a few days ago:
"Hello Steve,
i posted in the Caillou's multi-length VQ auto-trader thread some time ago.
I am testing this EA and i am having some success with it running it on a 10PIP EU Renko Chart.
However i ve read the improvements that you did to the Spider EA and was wondering if you could take some of your valuable time to add the Martingale and the AA-MA option to Caillou's multi-length VQ auto-always-in trader. That would be great thing to further improve this EA. "
I have added these features. For details of how they work, go to the Spider thread at http://www.forexfactory.com/showthread.php?t=313680. You need to be there anyhow; I am trading Spider live and it has attracted the attention of one of the best traders at FF.
If any of you want to know about RENKO charts, address your queries to tex. He doesn't know it yet, but he has just volunteered to answer them.
Have fun.
Matters of general interest
EA coding
If I code your EA for free, then I will share it here at FF. If you want me to code your EA without sharing, then my fee is $100 payable into my paypal account.
Read this post:
http://www.forexfactory.com/showthre...11#post4923611 Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration.
Useful utilities/EA's/scripts
- MaryJane has posted a fabulous utility to allow us to resize EA input windows: http://www.forexfactory.com/showthread.php?t=299017
- Multi purpose trade manager: http://www.forexfactory.com/showthread.php?t=89371
- Account equity analyser: http://www.forexfactory.com/showthre...16#post4693716 Also at http://www.forexfactory.com/showthre...98#post4709098, which includes a template for both USD and the Euro.
- Past-trades display indi by squalou; shows a graphical display of the success/failure of trades in your History tab. Breathtaking piece of work. http://www.forexfactory.com/showthre...10#post3830610
- My shell EA – the code I use to produce EA's so quickly. http://www.forexfactory.com/showthre...94#post4431794
Most promising trading EA's
- BigBob: an implementation of Nanningbob V10. http://www.forexfactory.com/showthread.php?t=309980. The strategy is fantastic and I am having a ball trading it manually. The EA is the most promising I have coded so far.
- Aurora, a PwR-based EU scalper at http://www.forexfactory.com/showthread.php?t=312936 has made a brilliant start.
- Trendy: http://www.forexfactory.com/showthre...82#post4840182, but should be left behind by BigBob.
- Reversi: http://www.forexfactory.com/showthread.php?t=294255 – I have traded this live.
- Rip: http://www.forexfactory.com/showthre...98#post4777998
- The Beast: http://www.forexfactory.com/showthre...=1#post4135863